This quiz works best with JavaScript enabled. Home > Cbse > Class 12 > Commerce > Accountancy > Class 12 Accountancy Chapter 2 Accounting For Partnership Firms Admission Of A Partner – Quiz 2 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 12 Accountancy Chapter 2 Accounting For Partnership Firms Admission Of A Partner Quiz 2 (6 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. What right a newly admitted partner acquires in the firm after his admission? A) Right to vote. B) Right to admit any partner. C) Right to share assets of the firm. D) None of the above. Show Answer Correct Answer: C) Right to share assets of the firm. 2. At the time of admission if the profit sharing ratio among the old partner does not change then sacrificing ratio will be A) According to new partner. B) Their old profit sharing ratio. C) According to the contribution of capital. D) Equal. Show Answer Correct Answer: B) Their old profit sharing ratio. 3. WHEN PSR OF OLD PARTNERS DOES NOT CHANGE, THEY SACRIFICE IN THEIR OLD RATIO A) TRUE. B) FALSE. C) All the above. D) None of the above. Show Answer Correct Answer: A) TRUE. 4. A and B are in partnership sharing profits and losses as 3:2. C is admitted for 1/4th share. Afterwards, D enters for 20 paisa in the rupee. The new profit sharing ratio after D's admission will be: A) (D) 3:2:5:5. B) (B) 6:9:5:5. C) 9:6:5:5. D) (C) 3:2:4:5. Show Answer Correct Answer: B) (B) 6:9:5:5. 5. A, B, and C are partner sharing profits in ratio 3:2:1. They agree to admit D into the firm. A, B, and C agreed to give 1/3rd, 1/6th, 1/9th share of their profit. The share of profit of D will be A) 11/54. B) 12/54. C) 13/54. D) 1/10. Show Answer Correct Answer: C) 13/54. 6. Unrecorded assets or liabilities are transferred to A) Partners capital account. B) Revaluation account. C) Profit and loss account. D) Partners current account. Show Answer Correct Answer: B) Revaluation account. ← PreviousRelated QuizzesCommerce QuizzesClass 12 QuizzesClass 12 Accountancy Chapter 2 Accounting For Partnership Firms Admission Of A Partner Quiz 1Class 12 Accountancy Chapter 1 Accounting For Partnership Firms Fundamentals QuizClass 12 Accountancy Chapter 3 Accounting For Partnership Firms Retirement Death Of A Partner QuizClass 12 Accountancy Chapter 4 Accounting For Companies Issue Of Shares QuizClass 12 Accountancy Chapter 5 Accounting For Companies Issue Of Debentures QuizClass 12 Accountancy Chapter 7 Financial Statements Of Companies QuizClass 12 Accountancy Chapter 8 Analysis Of Financial Statements QuizClass 12 Accountancy Chapter 9 Computerised Accounting System Quiz 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books